Azeri Light Oil Price Drops Slightly
Date
9/17/2024 3:11:58 AM
(MENAFN- AzerNews)
Akbar Novruz
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The price of Azerbaijan's "Azeri Light" oil fell by 0.19 US
dollars, or 0.25%, to 76.11 US dollars per barrel on the world
market, Azernews reports.
In parallel, the price of brent crude oil futures for November
stood at 73.07 US dollars per barrel following the latest
auctions.
For Azerbaijan's 2024 state budget, the average oil price has
been estimated at 75 US dollars per barrel.
It's worth noting that the lowest recorded price for "Azeri
Light" was 15.81 US dollars on April 21, 2020, while the highest
was 149.66 US dollars in July 2008. Azerbaijan's oil production
primarily stems from the Azeri-Chirag-Gunashli (ACG) field, where
the State Oil Company of Azerbaijan (SOCAR) holds a 25% stake.
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